Hey guys market update here
Yesterday we had the 75 hikes increase.
Today the us announces a recession for a second quarter
But the markets traditional and crypto are on a rally. I wasn’t really expecting such a rally but that’s the best part of trading the market never stops to amaze me. So moving forward I am keeping my eyes on 3 things
Commodities
Jobs
Inflation
If commodities rip then the inflation will probably rise.
We need unemployment to rise in order for inflation to decrease ( more unemployment less buying power prices fall)
If inflation is proven to be sticky then that’s bad.
We can call officially that we are in stagflation.
In conclusion I am bullish on the short term but full bearish on the long term. I thing crypto needs to go lower before a bull run starts.